22 March 2018
Assessee invested Rs.1500000 in Bajaj Alliance Life Insurance Company LTD. He received Rs.2226982 at the end of the policy. TDS deducted U/S 194 DA for Rs. 2226982. under which head of income difference amount Rs.726982 will be taxable. Capital Gain or Income from Other Sources.
22 March 2018
ideally should be taxed as capital gains https://www.livemint.com/Money/NPZMsRrGtl8lOmP37hKe7M/Taxation-when-a-life-insurance-policy-behaves-like-an-asset.html
but there are other opinions advocating treatment as IFOS too
CAclubindia
